Homebuyer assistance program available to Rockford residents

ROCKFORD — The City of Rockford's Community Development Department and its partner HomeStart announced the startup of the Homebuyer Rehabilitation Assistance Program.

ROCKFORD — The City of Rockford’s Community Development Department and its partner HomeStart announced the startup of the Homebuyer Rehabilitation Assistance Program.

This program will offer financial assistance to approximately 20 applicants to acquire and rehabilitate vacant properties in Rockford. Eligible homebuyers will receive between $3,000 to $5,000 for downpayment and closing cost assistance and up to $20,000 for rehabilitation of the property.

Additional grant funds may be available from the City of Rockford through its Federal HOME Investment Partnerships. Only vacant single-family properties are eligible for the program.

Applicants must have the ability to obtain financing to purchase a home. Household incomes must not exceed 80 percent of the area median income based on household size. Funds for this program will be disbursed on a first-come, first-served basis. Contact HomeStart at 815-962-2011 to apply.

The Homebuyer Rehabilitation Program is made available through a grant from the Illinois Housing Trust Fund and awarded to the City by the Illinois Housing Development Authority.